Future Group, India’s leading retail chain, selects IBSFINtech’s Innovative Trade Finance solution.
Mumbai/Delhi/Bengaluru, July 13, 2015 - IBSFINtech, the leading provider of niche financial software for Forex, Treasury and Trade Finance management, is pleased to announce that, Future Group, India’s leading retailer has selected IBSFINtech’s Innovative Trade Finance solution for effective management of group’s banking activities.
Future Group selected IBSFINtech’s Innovative Trade Finance Solution after a number of live demonstrations and due diligence of the software solution. The group is known for its up-to-date technology adoption and has always implemented best technology solutions available in the market. As a consequence of their desire to have latest technology in place for their Innovative Trade Finance operations at Mumbai; IBSFINtech, had a series of discussions followed by demonstration of both Innovative Treasury and Innovative Trade Finance suite of products.
Dinesh Maheshwari, CFO, at Future Group, commented, “After a comprehensive selection process, I am glad we selected IBFINtech for implementing trade finance solution to effectively manage banking activities at Future Group. The solution is an exhaustive package addressing all our requirements. It integrates with existing SAP module and enables real time purchase information for respective departments.”
T.M. Manjunath, Director – Technical Services at IBSFINtech, commented about key highlights of the solution, “The solution generates detailed information on purchase orders both domestic as well as Imports, manage Letters of Credit, Bill Realization, buyer’s credit, generation of various documents and managing bank details. It also integrates with existing SAP solution seamlessly to transmit purchase information on real-time basis.”
C.M.Grover, Executive Director at IBSFINtech, added, “We are pleased to have Future Group added to our esteemed list of clients. We are excited and look forward to long term relationship with Future Group.”
IBSFINtech was recently in news for successful implementation of their Innovative Treasury Solution at Snapdeal, India’s leading online retailer. The company has a record of successful corporate treasury implementations at Times Group (also referred to as Bennett, Coleman & Co. Ltd.), Viraj Profiles, SuRaj Diamonds and more.
Stressing upon importance of treasury software in today’s volatile foreign exchange market, C M Grover, stated, “A reliable and robust treasury software system is need of the hour for every corporate, be it large, medium or small. Existing methods of excel sheets have become obsolete in ensuring real-time critical decision making which is otherwise an automated process in IBSFINtech’s Innovative Treasury & Innovative Trade Finance software.”
IBSFINtech product being “Make-In-India” aligns with Prime Minister Narendra Modi’s vision and serves Public Sector Undertakings as well as private sector companies struggling with effective management of treasury operations. Considering this volatile foreign exchange market, a robust software solution will help companies to save money as well as mitigate the risk.
IBSFINtech is also offering Innovative Treasury solution on Cloud which would go a long way in assisting prospective clients in MSME segment, to manage market risks by a great extent with a nominal investment.
IBSFINtech India Pvt. Ltd is a Bangalore based organization specializing in providing niche products in the area of Forex & Treasury and Trade Finance for corporate sector. IBSFINtech’s Innovative Treasury Solution is focused towards treasury operation such as currency, money, commodity, gold bullion trading and derivatives of vanilla and exotic types. The products are seamlessly integrated with each and also with ERP solution of SAP, Oracle financial etc. Company’s Innovative Trade Finance solution caters to exporters/importers dealing in diamonds, gold, cashew nuts, Steel and garments etc., Group has dedicated technical as well as domain experts.